Minutes 05/26/2026 - Laserfiche WebLink

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May 26, 2026 Discussion:  Under the terms of the grant:  Radian Forge will be entitled to receive $26,500 of the grant funds if, as of June 30, 2031, it has made capital expenditures of at least $10,535,000 for taxable real property and/or taxable personal property at the Portsmouth facility.  Radian Forge will be entitled to receive $238,500 of the grant funds if, as of June 30, 2031, Radian Forge has created at least 53 permanent full-time jobs of an indefinite duration at the Portsmouth facility with standard fringe benefits and an average annual wage of at least $87,925.  Because of the nature of the grant program, any grant funds earned would be paid by the Commonwealth to the City, then by the City to the Portsmouth Port and Industrial Commission and then distributed by PPIC to Radian Forge.  Therefore, it is necessary for the City to appropriate the grant amount in the Grants Fund. Since appropriations to the Grants Fund do not lapse annually, the appropriation will remain in effect until the grant funds are received. Financial Impact:  The $265,000 grant award consists entirely of state funds. Recommended Action:  Adoption of the Resolution. Strategic Pillar #3: Economic Growth & Citywide Revitalization. Next Steps Following Council Action:  The City Manager will sign the Commonwealth Development Opportunity Fund grant agreement. “ORDINANCE ACCEPTING COMMONWEALTH DEVELOPMENT OPPORTUNITY FUND GRANT FUNDS IN THE AMOUNT OF $265,000 FROM THE VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP AUTHORITY AND APPROPRIATING SAID FUNDS IN THE FY 2026 GRANTS FUND FOR DISTRIBUTION TO PORTSMOUTH PORT AND INDUSTRIAL COMMISSION AND RADIAN FORGE INC. UPON RECEIPT OF THE FUNDS AND SATISFACTION OF THE GRANT REQUIREMENTS.” 26-132i: Adoption of an ordinance closing certain City-owned or controlled docking areas to public use for the Sail Virginia 2026 event. Background:  nd The Sail Virginia 2026 event will be held from June 19th through June 22.  The event will feature numerous activities and will be highlighted by the docking of four unique ships along the Portsmouth waterfront: Gazela, Lady Maryland, L’Intrépide, and Elissa. Discussion:  To ensure that the planned docking areas for the unique ships are available, it is advisable to prohibit use of the areas by the general public for docking or berthing without the approval of the City Manager.  The proposed ordinance would prohibit berthing and/or docking at or along the High Street Inlet, the North Harbor, and the Portsmouth Seawall from noon on June 15, 2026 through noon on June 23, 2026 without the approval of the City Manager.  The proposed ordinance would also allow the City Manager and the Chief of Police to have violating vessels towed at the owner’s expense, and states that the costs of any towing or storage of the vehicle will constitute a lien against the vessel.  The ordinance expressly would not apply to the HRT public ferry or to the four unique ships being hosted by Portsmouth as part of the event.